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Post by jackpease on Nov 25, 2016 14:34:32 GMT
News today that the Commons Culture Committee is on the case of ticket tout bots - bots that sweep up precious tickets for festivals/concerts etc - then flog them at inflated prices.
Many parallels with p2p - especially the allegations that ticket firms colluded with the bots - with suggestions that allowing bots to operate contravenes consumer protection laws.
Bot-cosy platforms might need to watch this one!
Jack P
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Post by mrclondon on Nov 25, 2016 17:04:11 GMT
Yes, a very valid line of reasoning.
However, in both cases the bots per se are not the problem, it is the ability to resell at a profit. Simply make it illegal to resell tickets at more than say n% above face value (to allow some margin for recouping the costs of the sale) and the problem would largely disappear.
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Greenwood2
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Post by Greenwood2 on Nov 25, 2016 20:16:22 GMT
But black markets after purchase are always going to a problem.
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james
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Post by james on Nov 25, 2016 20:36:17 GMT
However, in both cases the bots per se are not the problem, it is the ability to resell at a profit. Simply make it illegal to resell tickets at more than say n% above face value (to allow some margin for recouping the costs of the sale) and the problem would largely disappear. That's not sufficient for P2P bots because scarcity has value for diversification or raw interest rates even if a deal is done at par, so the bot can still deliver an advantage. And of course selling at a premium or discount often makes sense in P2P even though many sites don't offer the capability. Personally for P2P I'd go with technical measures to restrict short term flipping like account turnover and time rules rather than the overly broad no premium or discount approach. Some scarcity value for touts but harder for them to make a profit that way. You can use the scarce things as an incentive/reward for other things though. "Buy ten tickets for x at price y and we'll throw in a free ticket for z". Is z really free and legal or is it illegal profiting on z?
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ablender
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Post by ablender on Nov 25, 2016 22:06:37 GMT
News today that the Commons Culture Committee is on the case of ticket tout bots - bots that sweep up precious tickets for festivals/concerts etc - then flog them at inflated prices. Many parallels with p2p - especially the allegations that ticket firms colluded with the bots - with suggestions that allowing bots to operate contravenes consumer protection laws. Bot-cosy platforms might need to watch this one! Jack P The problems I see with this OP are the following: On platforms that have fixed prices, the idea of selling at inflated prices does not exist at all. Thus, it is not applicable to all platforms. Tickets are normally not allowed to be resold by unauthorised persons whereas in P2P platforms who operate an SM a lender is allowed to sell.
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Post by GSV3MIaC on Nov 27, 2016 12:37:42 GMT
/mod hat off
IMO (but I would say that) Bots (or some form of automation) have a valid use to avoid manually "standing in line" at some particular place/time for %whatever%, but platforms ought a) restrict the number of parts/tickets/whatever going to one punter per minute / hour / whatever seems good, and b) provide a usable automation facility for all (if you take pre-bookings you have a chance to weed out some of the FFF abuses before 'go live' time). If someone wants to sell their one ticket / loan part / cabbage patch doll for a (small) profit, fine by me .. when they hoover up a significant %age of the available stock (in some case ALL of it), such that nobody else can get a look in, then I get cross. Even Tesco (et al) have limits on just how many packets of 'BOGOF' sweeties you can stick in your trolley at one time.
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Post by mrclondon on Dec 18, 2016 16:48:45 GMT
Whilst perusing the current seedrs campaigns (in the context of assessing the likelihood of W&Co raising what they are asking for), I came across Twickets a site that mandates the resale of tickets at face value (plus upto 15% to allow for the recovery of the booking fee paid on purchase of original ticket) . Buyers pay a 10% booking fee plus postage. They have raised close to a £1m from c. 600 investors, and is the most popular of the current seedrs raises by a significant margin.
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